Inside information 10.5.2023

Inside information: Gofore Plc’s Business Review 1-30 April 2023: April net sales 14.5 million euros – Customer demand continued high, recruitment increased

Gofore Plc
10 May 2023 at 3.30 p.m. EET
Inside Information 

Inside information: Gofore Plc’s Business Review 1-30 April 2023: April net sales 14.5 million euros – Customer demand continued high, recruitment increased 

Inside information: In April 2023, Gofore’s net sales were 14.5 (11.5) million euros. The last 12 month (LTM) pro forma net sales were 170.6 million euros in April. The Group employed 1,385 (1,056) people at the end of the month.

CEO Mikael Nylund comments: 

”Gofore’s April continued the good trend of the beginning of the year, although affected by the amount of work days in April, 18. Our customer demand stayed high, and we are cautiously optimistic about the rest of the year. In Finland, government negotiations have started, and we keenly keep an eye on what kind of entries the program will entail on digitalisation. The program will not affect the short-term outlook.

From the customer front, we can mention an agreement we recently won with the State Treasury, on replacing an information system used for the accounting of the state budget with a new one. Workload of the project that starts this summer is mainly weighted in the first year, after which we move to a smaller development and maintenance phase. After the appeal period according to the Finnish Act on Public Procurement and Concession Contract has ended, this agreement period would continue until as long as 2031. 

In April, we were also invited in a wide frame arrangement of the City of Tampere and the nearby municipalities within its ICT collaboration. We made an offer in nine expertise areas, out of which we were chosen for seven. This enables Gofore to use a variety of its capabilities to benefit the significant development of the city’s ICT functions. The frame agreements will be for two years plus an optional two. The appeal period of this procurement is also ongoing. 

Our headcount was increased by 31 new experts in April. This is a positive sign and a reflection of a higher than expected amount of recognised customer needs.” 

Key Figures 


Net sales, MEUR 1

Pro forma LTM
Net sales 2

Number of employees at end of period 3

No. of working days in Finland

Full Time Equivalent,

Subcontracting, FTE5


15.8 (10,8)


1,318 (993)

21 (20)

  1,225 (917)

186 (147)


15.3 (11,3)


1,342 (1,015)

20 (20)

1,256 (942)

184 (153)


18.1 (13.3)


1,354 (1,043)

23 (23)

1,271 (968)

189 (155)


14.5 (11.5)


1,385 (1,056)

18 (19)

1,293 (988)

187 (156)

The numbers are unaudited.  Unless otherwise stated, comparing figures presented in brackets refer to the corresponding period of the previous year. 

eMundo GmbH’s figures have been consolidated into Gofore Group’s figures as of 1 November 2022. 

1) Net sales, MEUR (net sales in 2022) indicates the unaudited net sales for the month in question.    
2) The last twelve months (LTM) pro forma net sales figure that the company uses tells the net sales for the Group structure of the time of reporting. The pro forma net sales include the impact of acquisitions and divestments and is unaudited. 
3) Number of employees at the end of the review period.   
4) Overall Capacity, FTE (Full Time Equivalent) figure shows the overall capacity of the Group’s personnel, converted into a value corresponding to the number of full-time employees. The figure includes the entire personnel, regardless of their role. The figure is not affected by annual leave, time-off in lieu of overtime, sick leave or other short-term absences. Part-time agreement sand other long-term deviations from normal working hours reduce the amount of overall capacity in comparison with the total number of employees. The personnel capacity of corporate acquisitions has been accounted for as of the date of the acquisition.
5) Subcontracting, FTE (Full Time Equivalent) figure shows the overall amount of subcontracting used in invoiceable work, converted into a value corresponding to the number of full-time employees. The subcontracting of the companies acquired by Gofore has been accounted for as of the date of the acquisition. 

Gofore’s financial reporting 

In its monthly business review, Gofore discloses its monthly net sales, last twelve-month pro forma net sales and number of employees with comparison figures, as well as other indicators that help evaluate the company’s growth strategy execution, such as the Full Time Equivalent (FTE) numbers that describe overall capacity and the ratio of subcontracting.   

Monthly business reviews are published as soon as possible after the numbers are in, at the beginning of the following month for February, April, May, July, August, October, November, and December. Exceptions to this are January’s numbers, included in the full-year financial statements release and March numbers, included in the January-March interim report, and June numbers, included in the half-year report. Gofore also publishes IAS34 compliant interim reports quarterly.



About Gofore Oyj

Gofore is an international digital transformation consultancy with Finnish roots. We have over 1,300 impact-driven people in 19 locations across Finland, Germany, Austria, Spain, Estonia and Italy. With our technology and business expertise we build an equal digital society and create sustainable solutions for the intelligent industry. Our diverse group of professionals shares a pioneering ambition to create a more humane, sustainable and ethical digital world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2022, our net sales amounted to EUR 149.9 million. Gofore Plc’s share is listed on the Nasdaq Helsinki Ltd. in Finland. Our vision is to be the most significant digital transformation consultancy in Europe. Learn to know us better at

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